Clarke Roxburgh Properties Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 00736309 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Clarke Roxburgh Properties Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T C R Clarke

G B Clarke

SECRETARY:

T C R Clarke

REGISTERED OFFICE:

2nd Floor

Clarburgh House

32 Church Street

Malvern

WR14 2AZ

REGISTERED NUMBER:

00736309 (England and Wales)

ACCOUNTANTS:

Metherell Gard Ltd

Chartered Accountants

Burn View

Bude

Cornwall

EX23 8BX

FIXED ASSETS

Tangible assets

4

2,650,188

3,275,052

Investments

5

927,200

3,577,388

4,202,252

CURRENT ASSETS

Stocks

617,335

-

Debtors

6

13,147

448,526

Cash at bank

108,985

96,679

739,467

545,205

CREDITORS

Amounts falling due within one year

7

50,426

115,361

NET CURRENT ASSETS

689,041

429,844

TOTAL ASSETS LESS CURRENT
LIABILITIES

4,266,429

4,632,096

CREDITORS

Amounts falling due after more than one
year

8

(700,000

)

(445,708

)

PROVISIONS FOR LIABILITIES

(299,200

)

(366,100

)

NET ASSETS

3,267,229

3,820,288

CAPITAL AND RESERVES

Called up share capital

2,000

Fair value reserve

11

1,178,520

1,476,519

Retained earnings

2,086,709

2,341,769

SHAREHOLDERS' FUNDS

3,267,229

3,820,288

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 April 2025 and were signed on its behalf by:

G B Clarke - Director

1.	STATUTORY INFORMATION

Clarke Roxburgh Properties Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

The significant accounting policies applied in the preparation of these financial statements are set out below.

These policies have been consistently applied to all years presented unless otherwise stated.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

Preparation of consolidated financial statements

The financial statements contain information about Clarke Roxburgh Properties Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Revenue is recognised for the sale of goods when the vendor has transferred the significant risks and rewards of ownership, it is probable that the economic benefit will flow to the entity and the revenue and associated costs can be reliably measured.This is usually when the goods have been delivered.

Rendering of services

Revenue for provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and costs can be reliably measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured.

Rental income

Rental income from investment property leased out under an operating lease is recognised in turnover on a straight line basis over the lease term.

Dividends receivable

Dividend income is recognised as the company's right to receive payment is established.

Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Land and buildings - Nil or over the life of the lease

Plant and machinery etc - 5% - 25% on cost or written down value

Investments in subsidiaries

Investments are recognised initially at fair value which is normally the transaction price excluding transaction

costs. Subsequently, they are measured at cost less impairment.

Stocks

Stocks in relation to building development projects are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of land and associated fees of acquisition and planning, direct materials and labour costs for the development.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the

current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial

statements of current and previous periods. It is recognised in respect of all timing differences, with certain

exceptions. Timing differences are differences between taxable profits and total comprehensive income as

stated in the financial statements that arise from the inclusion of income and expense in tax assessments in

periods different from those in which they are recognised in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Leases

Rentals payable under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Investment property

Investment property is primarily used by the company's subsidiaries and as such is accounted for as a tangible fixed asset as permitted by FRS102.

Financial instruments

All financial instruments are recognised initially at transaction price excluding transaction costs and subsequently at amortised cost. These include fixed asset investments, cash at bank, trade and other debtors, trade and other creditors and bank loans.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment.

Employee benefits

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Intercompany loans

Intercompany loans are measured at cost and are repayable on demand. No interest is charged on intercompany loans.

Exceptional items

Exceptional items are those which, in the opinion of the directors, are material by size and irregular in nature and therefore require separate disclosure within the profit and loss account in order to assist users of the financial statements in understanding the underlying business performance of the company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST OR VALUATION

At 1 October 2023

3,183,045

237,309

3,420,354

Additions

-

1,314

Revaluations

(361,000

)

-

(361,000

)

Reclassification/transfer

(242,045

)

-

(242,045

)

At 30 September 2024

2,580,000

238,623

2,818,623

DEPRECIATION

At 1 October 2023

-

145,302

Charge for year

-

23,133

At 30 September 2024

-

168,435

NET BOOK VALUE

At 30 September 2024

2,580,000

70,188

2,650,188

At 30 September 2023

3,183,045

92,007

3,275,052

During the year part of one of the investment properties was transferred to trading stock as it was being developed for sale.

Cost or valuation at 30 September 2024 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

Valuation in 2024

2,580,000

238,623

2,818,623

If freehold land and buildings had not been revalued they would have been included at the following historical cost:

2024

2023

£

Cost

1,156,380

1,398,425

Land and buildings is comprised solely of investment properties that is used primarily by the company's subsidiaries in their trades. The investment properties were valued at the year end by professional valuers on an open market value basis.

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 October 2023

and 30 September 2024

927,200

NET BOOK VALUE

At 30 September 2024

927,200

At 30 September 2023

927,200

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

3,307

1,596

Amounts owed by group undertakings

2,000

427,829

Other debtors

7,840

19,101

13,147

448,526

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

3,528

-

Amounts owed to group undertakings

100

Taxation and social security

21,735

30,395

Other creditors

25,063

84,866

50,426

115,361

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

Bank loans

400,000

200,000

Other creditors

300,000

245,708

700,000

445,708

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

Within one year

5,800

Between one and five years

23,200

In more than five years

37,700

43,500

66,700

72,500

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Bank loans

400,000

200,000

Other creditors

300,000

700,000

500,000

The debts are secured by fixed and floating charges over the assets of the company.

11.

RESERVES

Fair

value

reserve

£

At 1 October 2023

1,476,519

Deferred tax movement

63,001

Revaluation movements

(361,000

)

At 30 September 2024

1,178,520